{"id":3064,"date":"2009-12-16T19:15:46","date_gmt":"2009-12-17T00:15:46","guid":{"rendered":"http:\/\/www.jasetaro.com\/blog\/?p=3064"},"modified":"2010-03-10T14:04:29","modified_gmt":"2010-03-10T19:04:29","slug":"good-news-national-debt-already-tops-debt-limit","status":"publish","type":"post","link":"https:\/\/www.jasetaro.com\/blog\/2009\/12\/16\/good-news-national-debt-already-tops-debt-limit\/","title":{"rendered":"Good News: National Debt Already Tops Debt Limit"},"content":{"rendered":"<p>From <a href=\"http:\/\/www.cbsnews.com\/blogs\/2009\/12\/16\/politics\/politicalhotsheet\/entry5987341.shtml\" target=\"_blank\">CBS News<\/a>:<\/p>\n<blockquote><p>The latest calculation of the National Debt as posted by the Treasury Department has &#8211; at least numerically &#8211; exceeded the statutory Debt Limit approved by Congress last February as part of the Recovery Act stimulus bill.<\/p>\n<p>The ceiling was set at $12.104 trillion dollars. The latest posting by Treasury shows the National Debt at nearly $12.135 trillion.<\/p>\n<p>A senior Treasury official told CBS News that the department has some &#8220;extraordinary accounting tools&#8221; it can use to give the government breathing room in the range of $150-billion when the Debt exceeds the Debt Ceiling.<\/p>\n<p>Were it not for those &#8220;tools,&#8221; the U.S. Government would not have the statutory authority to borrow any more money. It might block issuance of Social Security checks and require a shutdown of some parts of the federal government.<\/p><\/blockquote>\n<p>Right, we&#8217;re already in debt up to our eyeballs and what&#8217;s the Democrats plan?<\/p>\n<p>Keep spending&#8230; Look folks, you can&#8217;t spend your way to prosperity. Anyone who tells you you can probably thinks an alcoholic can drink his way to sobriety.<\/p>\n<p><strong>Related<\/strong><\/p>\n<ul>\n<li><a href=\"http:\/\/online.wsj.com\/article\/SB10001424052748704398304574598392286210188.html\" target=\"_blank\">The Audacity of Debt<\/a> &#8211; Wall Street Journal<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>From CBS News: The latest calculation of the National Debt as posted by the Treasury Department has &#8211; at least numerically &#8211; exceeded the statutory Debt Limit approved by Congress last February as part of the Recovery Act stimulus bill. The ceiling was set at $12.104 trillion dollars. The latest posting by Treasury shows the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[26,7],"tags":[57,160,59,933],"class_list":["post-3064","post","type-post","status-publish","format-standard","category-economy","category-politics","tag-barack-obama","tag-congress","tag-democrats","tag-national-debt","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfpI7-Nq","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3627,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/10\/26\/hey-big-spender-pelosi-led-congress-has-added-5-trillion-to-debt-since-2007\/","url_meta":{"origin":3064,"position":0},"title":"Hey Big Spender: Pelosi Led Congress Has Added $5 Trillion to Debt Since 2007","author":"Jeff","date":"October 26, 2010","format":false,"excerpt":"From CNSNews.com: When Rep. Nancy Pelosi (D-Calif.)\u00a0gave her inaugural address as speaker of the House in 2007, she vowed there would be \u201cno new deficit spending.\u201d Since that day, the national debt has increased by $5 trillion, according to the U.S. Treasury Department. \"After years of historic deficits, this 110th\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3608,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/10\/19\/big-spender-obama-has-now-borrowed-3-trillion\/","url_meta":{"origin":3064,"position":1},"title":"Big Spender: Obama Has Now Borrowed $3 Trillion","author":"Jeff","date":"October 19, 2010","format":false,"excerpt":"From CNSNews.com: It's official: The Obama administration has now borrowed $3 trillion, according to the U.S. Treasury Department. It took from 1776, when the United States became an independent country, until 1990, the year after the Berlin Wall fell signaling victory in the Cold War, for the federal government to\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4125,"url":"https:\/\/www.jasetaro.com\/blog\/2011\/08\/02\/thoughts-on-the-debt-limit-debate\/","url_meta":{"origin":3064,"position":2},"title":"Thoughts on the Debt Limit Debate &#8212; Updated","author":"Jeff","date":"August 2, 2011","format":false,"excerpt":"What we\u2019ve seeing playing out in Washington during the debt limit debate is in many ways akin to an addict facing an intervention. Washington\u2019s policy makers, both Democrats and Republicans, are hopelessly addicted to spending and they don\u2019t want to admit it or to change their behavior. As a result\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1959,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/04\/18\/figures-on-government-spending-and-debt\/","url_meta":{"origin":3064,"position":3},"title":"Figures on Government Spending and Debt","author":"Jeff","date":"April 18, 2009","format":false,"excerpt":"FYI: Total public debt subject to limit April 16 11,125,587 Statutory debt limit 12,104,000 Total public debt outstanding April 16 11,183,899 Operating balance April 16 257,351 Interest fiscal year 2009 thru February 148,762 Interest same period 2008 198,518 Deficit fiscal year 2009 thru February 764,525 Deficit same period 2008 264,541\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2196,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/05\/15\/barack-obama-us-long-term-debt-load-unsustainable\/","url_meta":{"origin":3064,"position":4},"title":"Barack Obama: U.S. Long-Term Debt Load &#8216;Unsustainable&#8217;","author":"Jeff","date":"May 15, 2009","format":false,"excerpt":"From Bloomberg News: May 14 (Bloomberg) -- President Barack Obama, calling current deficit spending \u201cunsustainable,\u201d warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries. \u201cWe can\u2019t keep on just borrowing from China,\u201d Obama said at a town-hall meeting in Rio\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1141,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/12\/19\/son-of-a-bailout-bush-gives-auto-makers-174-billion\/","url_meta":{"origin":3064,"position":5},"title":"Son of a Bailout &#8211; Bush Gives Auto Makers $17.4 Billion","author":"Jeff","date":"December 19, 2008","format":false,"excerpt":"President Bush this morning morning announced a $17.4 billion bailout plan for auto makers. Under the terms of the plan GM and Chrysler would receive $13.4 billion in loans in December and January, with another $4 billion likely available in February. The deal is contingent on the companies' showing that\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/3064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/comments?post=3064"}],"version-history":[{"count":0,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/3064\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/media?parent=3064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/categories?post=3064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/tags?post=3064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}